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发帖数: 30 | 1 在infinite horizon model, the chamley-jadd result tells that the optimal
capital taxation result is ZERO, but in OLD model, this result depends on
the utility functiont.
As we know, in circumstances of infinite horizon model, the distortion of
positive capital taxation means otherwise increasing consumption taxation
rate,
so, what is the intuition of failure of Chamley-judd result in OLD?
Thanks... |
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